As part of its monetary policy, RBI has, from time to time, announced changes in the policy rates as warranted to regulate liquidity. During 2006-07, the repo rate was raised on five occasions (June, July, October, 2006 and January and March 2007) by 25 basis points each time to reach a level of 7.75 per cent. The reverse-repo rate was raised from 5.75 per cent to 6.00 per cent in July 2006. |
The CRR was raised four times by 25 basis points on each occasion (December 2006, January, February, and March 2007) to reach a level of 6.00 per cent. During 2007-08, the CRR has further been revised upward by 25 basis points each effective April 14, 2007 and April 28, 2007, respectively.
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